Fuel pump prices to go up Tuesday

MANILA — Petroleum firms on Monday announced that pump prices of gasoline go up by 80 centavos per liter, diesel by 55 centavos and kerosene by 55-centavos on Tuesday.

Pilipinas Shell, Petron, Seaoil, PTT Philippines, and Eastern Petroleum will implement the adjusted prices at 6 a.m. on January 16.

Meanwhile, the additional fuel excise taxes under the first tranche of implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) will be PHP2.97 per liter for gasoline; PHP2.80 per liter for diesel, and PHP3.36 per liter for kerosene.

For liquefied petroleum gas, an increase of PHP1.12 per kilogram is expected, as the 15-day exhaustion of old 2017 stocks looms.

The Department of Energy has noted that some service stations have already implemented the new excise taxes since not all petroleum companies have the same inventory and that some may have depleted their old stocks earlier than others.

Source: Philippine News Agency